The week is only about 3/5 over, but there already have been numerous developments regarding the West’s continuing pressure on various countries, mostly Asian, to either cap their Iranian purchases at prevailing levels, or reduce them.
Here’s a quick summary of what’s transpired in the past few days, based on reporting from a wide range of Platts’ staff members: Takeo Kumagai, Pradeep Rajan, Mriganka Jaipuriyar, M.C Vaijayanthi and Charles Lee.
If there’s one conclusion that can be drawn from these various reports, it would be this: earlier conventional wisdom that Iran would simply transfer the oil from cancelled EU sales into its Asian customers is looking woefully wrong. (A summary report of where events stood last week can be read here.)
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